California ranks 3rd on list of least affordable states, analysis finds

Homeless people sleep in the Skid Row area in downtown Los Angeles. (AP Photo/Jae C. Hong, File)

Many states are less affordable due to stagnant wages and rising housing costs, according to a new analysis by GoBankingRates.

The personal financing site found Hawaii came in first as the least affordable place to live.

California ranks third on the list. The average cost of living is more than $84,000 in the state.

The state's median income is $63,000, leaving a gap of about $21,000.

The top five least affordable states in the country in order are: Hawaii, Oregon, California, New York and Maine.
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